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Wednesday, July 19, 2006

What is a Cash Back Credit Card?

Individuals may not even know it, but a cashback credit card is probably the best credit card they could ever hope to have � especially if they pay off the entire balance each month.

Companies like Morgan Stanley, American Express, GM, and Marbles are just a handful that offer cashback credit cards. You can compare these credit cards, standard variable rates and cashback percentages at www.moneyeverything.com/cards. They have compiled the best of cashback credit cards available and put them together in a user friendly format to help you compare and choose online.

Despite the criticisms against the use of credit cards, there are distinct advantages of paying with plastic.

The first advantage is that credit card purchases are discounted, so that cardholders receive an amount of money at the end of the year. It is up to them to decide how they want to use this �refund�. They could either buy something that they�ve put off buying, or they could use the money to add to their monthly credit card repayment.

The second advantage has to do with protection. When card users make purchases of over �100.00 with a credit card, they are automatically covered by Section 75 of the Consumer Protection Act. If the merchandise they purchased is defective or needs to be exchanged, their credit card receipt constitutes proof of purchase.

www.moneyeverything.com lives by their motto of "finance in plain English." If you visit their site, they have a well-written credit card guide that you can read to help you to decide which is the best credit card for you in your present circumstances.

Some of the standard variable rates (SVR) of the more common credit cards differ between 0.5% and 2%